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MIRA
INFORM REPORT
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Report No. : |
509388 |
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Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
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Name : |
ARSLANIAN GROUP DMCC |
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Registered Office : |
Unit No. Almas-27-FA, Almas Tower, Plot No. JLT-PH1-A0,
Jumeirah Lakes Towers, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2017 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject engaged in the import and distribution of general
merchandise, scrap and precious metal and machinery. |
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No. of Employees : |
3 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
NB |
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Credit Rating |
Explanation |
Rating Comments |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED
ARAB EMIRATES - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP from the oil and gas sector to 30%.
Since the discovery of oil in the UAE nearly 60 years ago, the country has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. The country's free trade zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors.
The global financial crisis of 2008-09, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency and ultimately a $20 billion bailout from the UAE Central Bank and Abu Dhabi Government that was refinanced in March 2014.
The UAE’s dependence on oil is a significant long-term challenge, although the UAE is one of the most diversified countries in the Gulf Cooperation Council. Low oil prices have prompted the UAE to cut expenditures, including on some social programs, but the UAE has sufficient assets in its sovereign investment funds to cover its deficits. The government reduced fuel subsidies in August 2015, and has announced plans to introduce excise and value-added taxes by January 1, 2018. The UAE's strategic plan for the next few years focuses on economic diversification, promoting the UAE as a global trade and tourism hub, developing industry, and creating more job opportunities for nationals through improved education and increased private sector employment
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Source
: CIA |
SUMMARY
Company Name :
ARSLANIAN GROUP DMCC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company
Registration Date :
2017
Issued Capital :
UAE Dh 100,000
Paid up Capital :
UAE Dh 100,000
Total Workforce :
3
Activities :
Distributors of general merchandise, scrap and precious metal and
machinery
Financial Condition :
Undetermined
Payments :
Unknown
COMPANY NAME
ARSLANIAN GROUP DMCC
ADDRESS
Registered & Physical Address
Location : Unit No.
Almas-27-FA, Almas Tower, Plot No. JLT-PH1-A0, Jumeirah Lakes Towers
Town : Dubai
Country : United
Arab Emirates
Telephone :
(971-4) 4289488
Mobile :
(971-56) 1717227
Email :
bonezalapatt@yahoo.com / bonezalapatt@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
Nareg Arslanian Indian Managing
Director
Raffi Arslanian - General
Manager
Bony Alapatt - Administration
Executive
LEGAL FORM & OWNERS
Date of Establishment : 2017
Legal Form :
Limited
Liability Company
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s)
Percentage
Nareg Arslanian 100%
OPERATIONS
Activities: Engaged in the import and distribution of general merchandise,
scrap and precious metal and machinery.
Import Countries: Europe and the Far East
Subject has a workforce of 3 employees.
FINANCIAL DATA
Subject is a newly formed business and as a result financial
information is not currently available.
BANKERS
Bank Melli Iran
Baniyas Square
PO Box: 1894
Dubai
Tel: (971-4) 2216777
Fax: (971-4) 2231589
PAYMENT HISTORY
Unknown
GENERAL COMMENTS
The subject and its shareholders/owners have been searched in the
following databases; Office of Foreign Assets Control (OFAC), United Nations
Security Council Sanctions, Australian Sanctions List, US Consolidated
Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and
nothing adverse could be found on the exact names listed within the report.
In view of subject’s infancy, extensive payment and financial
records are not available, therefore dealings are recommended to be on secured
terms, and a close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 60.53 |
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1 |
INR 91.49 |
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Euro |
1 |
INR 80.53 |
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UAE DH |
1 |
INR 18.46 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRA |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.